The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), reportedly has provided a senior loan of USD 15 million to AccessBank, a microfinance institution (MFI) in Azerbaijan.
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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $63m to Belorusian-Russian Belgazprombank of Belarus, Banca Transilvania of Romania, Microfinance Institution AccessBank of Azerbaijan
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) backed by multiple governments, recently disbursed loans intended to benefit micro-, small and medium-sized enterprises (MSMEs) in the following amounts: EUR 20 million (USD 27.4 million) to Belorusian-Russian Belgazprombank, a Belorusian bank; EUR 15 million (USD 20.5 million) to Banca Transilvania, a privately-owned Romanian bank; and USD 15 million to AccessBank, an Azerbaijani for-profit microfinance institution (MFI) and a member of Germany’s Access Microfinance Holding (AccessHolding) [1].
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $1.3m to Azerbaijani Viator, $1.6m to Kosovar Kreditimi Rural i Kosoves
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has made a loan of EUR 792,000 (USD 1,068,000) to Viator, an Azerbaijani MFI.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Taiwan International Cooperation and Development Fund (TaiwanICDF) Lend $3.5m to TBC Kredit of Azerbaijan for Micro-, Small, Medium-Sized Enterprises
The UK-based European Bank for Reconstruction and Development (EBRD) recently reported that it will lend USD 2.5 million to Tbilisi Business Centre (TBC) Kredit LLC, a microfinance institution (MFI) based in Azerbaijan, to support on-lending micro-, small and medium-sized enterprises (MSMEs) in Azerbaijan.
MICROCAPITAL BRIEF: Austria’s Absolute Portfolio Management Issues Credits Worth $4m to Microfinance Institutions in Azerbaijan, Cambodia, Georgia, Honduras, Indonesia
In July 2013, Absolute Portfolio Management (APM), an Austria-based asset management company that offers investment and advisory services to microfinance institutions, issued approximately USD 4 million in credit to microfinance institutions (MFIs) located in Azerbaijan, Cambodia, Georgia, Honduras and Indonesia through its two microfinance funds, Dual Return Fund – Vision Microfinance and Dual Return Fund – Vision Microfinance Local Currency [1].
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $50m to AccessBank of Azerbaijan for Micro-, Small, Medium-sized Enterprises in Rural Areas
AccessBank, an Azerbaijani for-profit microfinance institution (MFI), recently notified MicroCapital that the Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, will provide a USD 50 million five-year senior loan facility to AccessBank.
MICROCAPITAL BRIEF: Pasha Bank Underwrites Inaugural Bond Issue of $12.7m to FINCA Azerbaijan to Support Micro and Small Businesses, Entrepreneurs
Pasha Bank, an Azerbaijan-based financial services provider, recently underwrote a three-year inaugural bond issue of AZN 10 million (USD 12.7 million) to the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network.
MICROCAPITAL BRIEF: AccessBank of Azerbaijan Receives $60m Syndicated Loan from FMO, OeEb, PROPARCO
Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch development finance institution, recently notified MicroCapital that it has arranged a USD 60 million syndicated loan facility for AccessBank, a for-profit microfinance institution located in Azerbaijan.
MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Considers Credit Bureau for Microlenders
Teymur Heybatov, a representative of the Azerbaijan-Central Asia Financial Markets Infrastructure (ACAFI) advisory services project of the World Bank Group’s International Finance Corporation (IFC), reportedly has announced that a meeting will be held with the leadership of the Azerbaijan Microfinance Association (AMA) to discuss establishing a credit bureau for microfinance institutions (MFIs) in Azerbaijan.
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Loans $800k to Soro Yiriwaso of Mali, Viator of Azerbaijan
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based nonprofit that provides financial services to microfinance institutions, recently notified MicroCapital that it has disbursed a one-year loan of USD 396,000 to Mali-based microfinance institution (MFI) Soro Yiriwaso, its third loan to Soro Yiriwaso to date.
MICROCAPITAL BRIEF: DemirBank of Azerbaijan Offers Automated Teller Machine Repayment Option
DemirBank, an Azerbaijani commercial bank that lends to small and medium-sized enterprises, recently announced that customers have the opportunity to repay loans at automated teller machines (ATMs) with their bank cards.
MICROCAPITAL BRIEF: AccessBank of Azerbaijan Borrows $4.2m from European Bank for Reconstruction and Development (EBRD) for Energy Efficient Remodel of Headquarters
AccessBank, a for-profit microfinance institution based in Azerbaijan, recently received a loan of USD 4.2 million from the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, that will provide 30 percent of the financing required to renovate its new headquarters in Baku.
MICROCAPITAL BRIEF: AlHuda Center for Islamic Banking and Economics, VisionFund AzerCredit to Conduct Market Research in Advance of Possible Launch of Islamic Microfinance in Azerbaijan
The nonprofit AlHuda Center for Islamic Banking and Economics (CIBE) has signed an agreement with VisionFund AzerCredit, a non-bank financial institution in Azerbaijan and subsidiary of US-based NGO VisionFund International, to conduct market research in urban areas of Azerbaijan regarding the demand for Islamic microfinance.
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) Loans $666k to FinDev of Azerbaijan, $320k to Phoenix+ of Tajikistan
Grameen Crédit Agricole Microfinance Foundation (GCAMF), an organization that offers financial services to microfinance institutions (MFIs) and social business projects in Africa and Eurasia, recently approved a three-year loan to Azerbaijani MFI FinDev in local currency equivalent to USD 666,000.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4.9m to Banka Respublika of Azerbaijan, $3.2m to ProCredit Bank Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, recently made a loan of USD 4.9 million to Banka Respublika Open Joint Stock Company, a private Azerbaijani bank.
MICROCAPITAL BRIEF: International Finance Corporation Loans $15m to AccessBank to Aid Small Enterprises, Microentrepreneurs in Azerbaijan
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently loaned USD 15 million to AccessBank, a microfinance bank in Azerbaijan, to supplement lending to micro-small and medium sized-enterprises in the country.
MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Proposes Guarantee Fund for Agricultural Credits
The Azerbaijan Microfinance Association (AMFA), a trade group of 28 microfinance institutions, recently announced that it will explore the possibility of creating a guarantee fund to insure up to 80 percent of an entrepreneur’s agricultural loan.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $10m to AccessBank Azerbaijan
AccessBank, a microfinance institution (MFI) based in Azerbaijan, recently received a USD 10 million loan from European Fund for Southeast Europe (EFSE), a Luxembourg-based organization focused on economic development in southeastern Europe and parts of Central Asia, to expand its loan portfolio.